CEO Derek Chang reveals progress in negotiations for Formula 1's new US TV deal

In the United States, the current television deal for Formula 1 with ESPN is set to conclude at the end of the 2025 racing season. This timing creates a sense of urgency as Formula 1 is preparing for a pivotal year in 2026, a season expected to introduce significant changes including new technical regulations and engines. The introduction of the Cadillac F1 Team adds an additional layer of excitement and interest from the American audience. As the series looks to expand its footprint in the US, the absence of a secured broadcasting deal has raised concerns about maintaining audience engagement and viewership numbers during this crucial transition period. Liberty Media's CEO, Derek Chang, has recently expressed optimism about the ongoing negotiations regarding the broadcasting rights for the upcoming seasons. During a conference appearance, Chang indicated that discussions are in an advanced stage and the company's stance is one of comfort and happiness regarding the direction of the negotiations. The current contract arrangement is facing challenges, particularly with ESPN, which reportedly is unwilling to increase their proposed bid for maintaining the US television rights, currently pegged at $90 million. Speculation about potential broadcasting partners has emerged, with many believing that tech giant Apple is a potential player in the negotiation process. Apple has shown interest in sporting events in the past, having invested in broadcasting agreements for Major League Baseball and Major League Soccer. Reports suggest that Apple has bid between $120 million and $150 million per year for the rights to broadcast Formula 1 in the US, leveraging its experience with the successful F1-related movie produced by Apple Studios. This positioning hints at a robust strategy aiming to capitalize on the rising popularity of Formula 1 in the United States, especially as viewership grows amidst the new technical changes and team introductions planned for 2026. The importance of finalizing a new broadcasting agreement cannot be understated as it will play a crucial role in ensuring the continued growth and visibility of Formula 1 in a rapidly evolving market. The 2026 season is poised to be a landmark year alongside the induction of new regulations and teams, making it essential for the governing body to streamline a relationship with a broadcasting partner that can effectively showcase these developments to a wider audience. The future of Formula 1's US broadcast presence rests in the balance, and stakeholders anticipate an announcement regarding the new television deal to be forthcoming in the near future.